Garmin 2009 Annual Report Download - page 105

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2000Non‐employeeDirectors’OptionPlan
AlsoinOctober2000,thestockholdersadoptedastockoptionplanfornon‐employeedirectors(the
DirectorsPlan)providingforgrantsofoptionsforupto100,000commonshares.Thetermofeachawardisten
years.Allawardsvestevenlyoverathree‐yearperiod.During2009,2008and2007,optionstopurchase34,648,
15,696,and5,562shares,respectively,weregrantedunderthisplan.In2009,thestockholdersapprovedan
additional150,000sharestotheplan,makingthetotalsharesauthorizedundertheplan250,000.
Stock‐BasedCompensationActivity
AsummaryoftheCompany’sstock‐basedcompensationactivityandrelatedinformationunderthe2005
EquityIncentivePlan,the2000EquityIncentivePlanandthe2000Non‐employeeDirectors’OptionPlanforthe
yearsendedDecember26,2009,December27,2008,andDecember29,2007isprovidedbelow:
Weighted‐Average
ExercisePrice NumberofShares
(InThousands)
Outs ta ndi ngatDecember30,2006 $29.24 7,726
Granted $84.61 2,864
Exerci s e d $18.29 (934)
Forfeited $38.11 (125)
Outs ta ndi ngatDecember29,2007 $46.82 9,531
Granted $51.00 1,470
Exerci s e d $22.35 (226)
Forfeited $53.89 (249)
Outs ta ndi ngatDecember27,2008 $47.76 10,526
Granted $23.09 35
Exercised $18.08 (278)
Forfeited $59.55 (174)
OutstandingatDecember26,2009 $48.28 10,109
ExercisableatDecember26,2009 $39.37 6,148
StockOptionsandSARs
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Exercise OptionsRemaining Options
Price Outstanding Life(Years) Exercisable
(InThousands) (InThousands)
$7.00‐$20.00 1,801 3.42 1,797
$20.01‐$40.00 2,069 5.21 1,728
$40.01‐$60.00 3,548 7.33 1,546
$60.01‐$80.00 1,314 7.36 526
$80.01‐$100.00 7 7.81 3
$100.01‐$120.00 1,366 7.88 547
$120.01‐$140.00 4 7.78 1
10,109 6.28 6,148
StockOptionsandSARsasofDecember26,2009
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